Magazine
Latest Issue

The government needs to help millennials save for the future

"Our research found that 24 per cent of young people were not saving at all"

By Sophie Robson  

currency-1018220_960_720

Recent figures from the Office for National Statistics examining incomes will do little to dampen claims of intergenerational inequality. According to the statistics, pensioners have seen their income grow by 13 per cent in the last decade. Working-age households, however, have seen a 1.2 per cent drop in real terms over the same period.

Of course, the contentious triple lock on pensions has guaranteed an annual pay rise for pensioners. However, a major driver of this increase has been private sources of income, such as annuities and investments, which have surpassed…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

We want to hear what you think about this article. Submit a letter to letters@prospect-magazine.co.uk

More From Prospect